Davos 2023: The future of work

World Economic Forum (WEF) president Børge Brende wrapped up Davos this year by commenting in line with its theme: “Although the world is more fragmented today, it does not need to be tomorrow. By coming together like this, we can shape a more collaborative future.”

The WEF used this time to discuss some of the groups that have been formed to help promote growth and support for workers across the world.

‘Future of Growth Consortium’

The Future of Growth Consortium is made up of leaders, chief executives, and ministers aiming to promote growth on a global scale.

“Avoiding a recession and building a solid growth agenda is critical, and it is doable, to stop the fragmentation of the global economy. Hence the forum launched the Future of Growth Consortium to champion a new framework for growth this week,” said Mr Brende.

The group will focus on three key areas, as listed by the WEF:

• Developing and disseminating a new multidimensional framework for growth
• Fostering public-private market co-creation to deliver purpose-led growth
• Building understanding and foresight on the evolution of the world economy

‘Reskilling Revolution’

Since its launch in 2020, the WEF’s Reskilling Revolution has reached over 350 million people, providing them with better skills, education, and jobs.

According to Mr Brende, the WEF is on track to hit its goal of reaching 1 billion people by 2030.

Sixty-four CEOs and 32 ministers from 16 countries are helping to support the revolution.

‘The Jobs Consortium’

The Jobs Consortium is working to help ease people through unpredictable labour markets.

The main focus areas, as listed by the WEF:

• Boosting foresight on labour market trends to prepare for the future
• Identifying investments in key sectors leading to good job creation
• Supporting high job quality, fair wages and dynamic job transitions

“The Jobs Consortium is moving forward, implementing a new vision for a better future of work,” said Mr Brende.

‘The Good Work Alliance’

Evolving technology, social transformation, and environmental considerations have prompted the WEF to establish the Good Work Alliance. Mr Brende said the alliance “is working to build a resilient, equitable, and human-centric future of work”.

The ambitions of the Good Work Alliance, according to the WEF, revolve around the full lifecycle that makes up “good work”.

‘Global Parity Alliance’

The Global Parity Alliance is a global coalition that, according to Mr Brende, “is working to renew growth and resilience through diversity, equity, and inclusion (DEI)”.

The group is made up of 250 CEOs, ministers, and other leaders. Their functions, according to the WEF, include finding great DEI programs, communicating positive learnings that apply to all programs, and getting CEOs involved.

Mr Brende continued: “The cost of inaction when it comes to resilience far exceeds the cost of action.”

HR Leader recently provided a day-by-day recap of what happened at Davos 2023. To read that article, click here.